off-the-wire

India New Issue-Kotak Mahindra Investments to issue 19-month bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 9 (Reuters) - India's Kotak Mahindra Investments plans to raise at least 750 million rupees ($9.14 million) through the sale of zero-coupon bonds maturing in 19 months, three merchant bankers said today. The company has invited bids from bankers and investors for the issue on Monday, they said. The bonds are rated AAA by CRISIL and the issue has a greenshoe option to retain an additional 3.75 billion rupees.


It will mature in October 2024 and the issue will be settled next week.


In February, the company raised an aggregate of 3.65 billion rupees selling bonds maturing in three years as well as in three years and four months at 8.1577% and 8.1379% coupon.
($1 = 82.0480 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

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